Energize Colorado Gap Fund

Round 1 Awards Summary

"Energize Colorado and the Gap Fund have been instrumental in the progress and growth of my business. Not only have I been connected with exceptional mentors through Energize Colorado, but the grant funding has allowed me the opportunity to build and shift my business. I have been better able to pivot to the ever changing needs of my clients (dealing with Covid-19) and able to spread a wider net to help more small businesses around Colorado. Essentially, the funds and support I've received have helped me help more people. I could not be more grateful!"

– Energize Colorado Gap Fund Award Recipient

All Round 1 Applications

0

Applications

$0 million

in Requested Funds

0%

from Priority Businesses

0%

Applications from BIPOC- and Women-owned businesses

0%

Applications from BIPOC-owned businesses

"You probably heard me from here. I just burst into tears. I didn’t actually realize how much stress and anxiety I was carrying with me until I received this amazing GOOD news! Thank you so much to Energize Colorado, the State of Colorado, Colorado Housing and Finance Authority, and Colorado Lending Source for this assistance. I can’t begin to express what this means to me. In fact, it is hope, and keeping me from despair, and a safety net all at once. I will continue to do my best to serve our State with the best possible experiences in terms of the projects and events I work on. This is the best state in the union, and I will do my best with my business to continue to support Colorado."

– Energize Colorado Gap Fund Award Recipient

Prioritization of Awards

The Fund’s review and ranking process elevates priority businesses to the top of the funding pool to receive awards – businesses from the four priority groups, that have received no or inadequate prior assistance, and with both high community impact and high future viability. The Gap Fund awards are not first-come-first-served.

Round 1 Awards

$0 million

in Awarded Grants

0

Awarded Businesses

0%

for Priority Businesses

0%

of Awards to BIPOC- and Women-owned businesses

0%

of Awards to BIPOC-owned businesses

Closing the Gap

Women Businesses

0X

Closing the Gap Multiplier 1

 Colorado2Gap Fund3Jobs4Gap Fund5Multiplier
 % of Businesses% of Apps% of Applicant FTEs% of AwardsTimes % of Businesses
Women-owned:38%57%53%81%2.1x

Hispanic/Latino Businesses

0X

Closing the Gap Multiplier 1

 Colorado2Gap Fund3Jobs4Gap Fund5Multiplier
 % of Businesses% of Apps% of Applicant FTEs% of AwardsTimes % of Businesses
Hispanic/Latino-owned:15%12%12%24%1.6x

Black/African American Businesses

0X

Closing the Gap Multiplier 1

 Colorado2Gap Fund3Jobs4Gap Fund5Multiplier
 % of Businesses% of Apps% of Applicant FTEs% of AwardsTimes % of Businesses
Black/African American-owned:5%10%8%17%3.4x

Veteran Businesses

0X

Closing the Gap Multiplier 1

 Colorado2Gap Fund3Jobs4Gap Fund5Multiplier
 % of Businesses% of Apps% of Applicant FTEs% of AwardsTimes % of Businesses
Veteran-owned:8%7%8%12%1.5x

Rural Businesses

0X

Closing the Gap Multiplier 1

 Colorado2Gap Fund3Jobs4Gap Fund5Multiplier
 % of Businesses% of Apps% of Applicant FTEs% of AwardsTimes % of Businesses
Rural:11%27%27%46%4.2x
  1. The number of times greater the Gap Fund awards are than the actual % of small businesses for this group in CO.
  2. Minority Business Office: A Colorado Driver & Census.gov 2016 SUSB Annual Data; https://www.census.gov/quickfacts/
  3. Percentage of all Gap Fund round 1 applications.
  4. Percentage of total FTEs of all Gap Fund applicants as of October 22, 2020.
  5. Percentage of Gap Fund round 1 awarded businesses, October 22, 2020.

Geographic Distribution of Awards

Round 2 – October 5th-26th

$0 million

in Grants to be Awarded Before December 30th

0

Additional Businesses to be Awarded

0%

of Round 1 Businesses Eligible for Round 2 Funding or Already Awarded

Wrap-Around Business Support

In addition to providing capital, Energize Colorado provides businesses with subsidized PPE, free and low-cost mental health support, free professional services, including free legal advice, and free business mentorship.

To date the Mentorship Initiative has served:

0 Businesses Providing...

0 Business with Mentorship and Guidance

0 Business with Gap Fund Support

0+ Facilitated Connections to Services Outside of Energize Colorado

Community Recovery

The Gap Fund will continue to raise capital from foundations, individuals and public sources through 2021 and beyond to help businesses – and the families and communities that rely upon them – recover.

Excecutive Committee

Gap Fund Executive Committee

"Energize Colorado, we thank you!

Office of Economic Development and International Trade, we thank you!

Sate Economic Development Commission, we thank you!

Colorado Housing and Finance Authority, we thank you!

Colorado Lending Source, we thank you!

State of Colorado, we thank you!

Colorado General Assembly, we thank you!

Governor Polis, we thank you!

Gap Fund Executive Committee chaired by Kent Thiry, we thank you!"

– Energize Colorado Gap Fund Award Recipient

Questions about the Gap Fund? Drop us a line to find out more!